Personal wealth building during tough times can be very difficult and most of the time it’s far easier to just say: “I’ll get back to my wealth building plan when I get back on my feet again.”
However, the more you get into the habit of saying this, the more often you’ll find yourself HAVING to say it. Building wealth isn’t easy, and that’s why so few people succeed with it.
If you want to be someone who succeeds, you have to stay committed rain or shine. Here are a few things to do which will help you with your building plan during tough times.
Never Put Your Wealth Building on Hold
No matter how slow you’re moving, it is important that you KEEP moving. When it comes to wealth building, this means that if you can’t invest your standard 10 to 20% without getting behind on your monthly bills, save 8% or 5%.
What’s important is that you do at least something and that you refuse to give up. Never, ever put your wealth building plan on hold. Even if you’re only earning $100 a week and you’re investing $1 of it.
Stay committed. Remember the Tough Times, Even When They’re Over
The more wisely you invest your money when times are good, the less often you’ll be met with times that are tough. The problem is that when the tough times are over and prosperity (or at least an increase in cashflow) occurs, we become overconfident and start spending money carelessly again.
Remember, it wasn’t raining when Noah built the arch, so be sure to be mindful of the tough times and use the times of prosperity to prepare yourself.
The more you do this, the more you’ll have to get you through the times of scarcity. To illustrate this, remember the story in Genesis of Joseph ruling Egypt. He received a vision that there would be seven years of plenty followed by seven years of famine. So during the years of plenty, he stored up food for use during the years of famine.
Because he planned this way, everyone came to him during the years of famine and he became the wealthiest and most powerful man in Egypt. However, this was only possible because he accepted that the tough times WOULD come….and they will, so remember them.
This ought to give you an idea of how valuable it is to plan for the economic seasons in your life and to stay committed to your personal wealth building, rain or shine.
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